Market Flux Event
Albertsons Demands More Than $9 Billion From Kroger Over Collapsed $24.6 Billion Merger
Read this in the Market Flux appAlbertsons Companies is seeking more than $9 billion from Kroger in Delaware Chancery Court over the collapse of what would have been the largest grocery chain merger in US history. Lawyers for Albertsons made the demand on Monday, ahead of a two-week trial scheduled later this month to determine who is responsible for the deal's failure.
Albertsons contends that Kroger torpedoed the $24.6 billion tie-up by refusing to divest more-profitable stores, a move Albertsons says doomed any chance of winning regulatory approval. The merger was originally agreed in October 2022 and was blocked by a federal court in December 2024 following legal action by the Federal Trade Commission and multiple state attorneys general.
The WSJ reported the damages figure as $8 billion while Bloomberg and other outlets reported it as more than $9 billion, a discrepancy that may reflect different components of the claim. A trial in Delaware Chancery Court is set to resolve the liability question and, ultimately, the size of any payout.
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Sources
- WsjAlbertsons Wants $8 Billion From Kroger After Failed Merger
- InvestingAlbertsons demands Kroger pay over $9 billion amid failed merger
- BusinessAlbertsons is demanding that Kroger pay more than $9 billion for the collapse of what would have been the largest US grocery chain merger in history.
- FirstSquawkALBERTSONS WANTS $8 BLN FROM KROGER AFTER FAILED MERGER - WSJ READ HERE